Press Release

Revamping Iraq’s Banking Sector for Economic Growth

Due to sanctions imposed on Iraq’s banking sector for various reasons, both the economy and private sector are hindered from achieving their full potential. In today’s digital economy, centred on online transactions and digital interactions, Iraq’s banking sector has predominantly focused on traditional profit-making methods, particularly through currency exchange with the government.

The retail banking side remains very limited due to extensive paperwork, rigorous due diligence requirements, and narrow profit margins. Banks hesitate to expand their retail business due to attempts to profit from consumers who already lack financial resources and face high unemployment ratios.

Rabee Securities (RS) is a premier securities brokerage house in Iraq. RS is licensed and regulated by the Iraqi Securities Commission (ISC).

According to Shwan Ibrahim Taha, CEO and founder of Rabee Securities, an expert in Iraq’s finance sector, “excessive inflation poses a major challenge to Iraq’s monetary policy. The country’s heavy reliance on oil revenues for 93-96% of its financial income hinders economic diversification.”

Rabee Securities has high-quality Trading and Research services both for local and foreign clients. RS is managed by a professional team that recorded successes including but not limited to the listings of two premier telecom operators; Asiacell in February 2013 and Al Khatem Telecoms in June 2015. RS is trusted by many international traders and has been acknowledged as the best brokerage house in Iraq. Recently, RS has been selected for the annual award of the Federation of Arab Capital Markets (AFCM) for the year 2022 by The Global Economics in the category of “The Best Financial Broker in Iraq”.

RS was established to promote investment opportunities in Iraq. Since the beginning, we have continuously expanded the range of our investment activities to encompass a broad spectrum of financial services.

“Iraq urgently needs infrastructure rehabilitation and improvements in its private sector to enable it to engage in larger projects and incentives. The International Finance Corporation (IFC) exemplifies the pivotal role that international funds and institutions can play in the country’s economy, provided stability, transparency, and partnership meet acceptable standards,” added Mr. Taha.

RS also provides investment banking services and advisory to Iraqi and foreign companies that have strategic interests in Iraq through its subsidiaries and owned companies which includes capital formation and general guidance.

Welcome to Rabee, the ultimate App for all your IRAQ stock market needs! Whether you already have a trading account or just starting to invest on the Iraq Stock Exchange (ISX), Rabee provides you with the tools and resources to trade on the ISX with confidence. With Rabee App, you can stay up to date with real-time stock quotes, price charts, and market news. Rabee App is FREE to Download and Use!

According to IFC’s announcements, since 2005, they have invested and mobilized more than $1.9 billion to support Iraq’s private sector. Recently, IFC launched a new program to support 20 startups and connect them with potential investors. They have also invested $130 million in the Douh Cement Company, signed an agreement with the Iraqi Stock Market Authority to improve market regulations and provide advisory services, and entered into an agreement with the Iraqi government to improve and modernize Baghdad International Airport.

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